The Top 3 Attributes Of The Best Credit Cards In Dubai
Using a credit card is a matter of financial prudence and creativity: you have to pay your balances within time to use the bank’s line of credit without additional fees, and you can keep the card only for essential purchases and experiences. It is a wonderful tool to add to your personal finance arsenal. If you haven’t got one yet, maybe you should in 2021.
Once you check your credit score and are certain that you can use a credit card as it should be used, you should start scouting for the best credit cards. But what do you look for? We list 3 key factors or attributes that your credit card must have:
#1 A range of useful benefits that save money.
There are credit cards galore in the UAE – but have you found the perfect one? The best credit cards in Dubai offer a range of benefits, from reward points to travel miles, on every swipe. Check the issuer’s different cards on offer for an idea of what to expect in terms of benefits. As per your card eligibility, you can enjoy benefits like global lounge access with Priority Pass™, reward points for flying with member airlines and staying at partner hotels, retail and travel insurance, redeemable points for dining and shopping at member merchant outlets, and so on. When used properly, the best credit cards in Dubai end up saving your money over the rewards accumulated.
#2 Low APRs and fees.
Most people are hesitant about taking credit cards because they fear high interest and fees/penalties. But it is a myth that credit cards lead to financial disasters – this happens only with irresponsible use. If you choose the best credit card with a low APR (Annual Percentage Rate) and pay your statement balance within the due date, there is no reason for the issuing bank to slap you with interest or heavy penalties. Interest is charged only on pending balances carried from month to month. The bank will also levy charges and penalties if you transfer a balance to another card but do not pay off the accrued interest or the pending sum in full. Discuss whether the bank offers a fixed or variable interest rate, and choose the fixed one. This helps you keep tabs on your balance, since you know what your interest rate is from one month to the next.
#3 Easy to apply and get.
Another attribute of a really great credit card is that it is easy to apply for. Though all banks in the UAE offer credit cards, only the leading ones have got the application process right. You should be able to browse the bank’s website and get all the relevant information at the click of a button. The website must list all the different credit cards they have, and allow potential customers to check their eligibility for each. Once you find that you are eligible for a certain credit card in Dubai, you should be able to apply for it easily and have the bank process your paperwork in just a few days. Post-background checks and approval, the credit card should be dispatched to your residence or place of work in just a few days.
We hope this article sheds light on what to look for when taking a credit card in Dubai or the rest of the UAE. Always partner with a leading bank and you will be in safe hands, with a card that serves your purpose and helps you save money over the long run.
